Business
Wallbridge Mining updates on its Broken Hammer Project
TORONTO , Sept. 18, 2013 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) today provi...
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":"\n\n\nTORONTO, Sept. 18, 2013 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) today provided an update on its Broken Hammer copper (\"Cu\") and\n platinum group element (\"PGE\") project in Sudbury, Ontario.\n\n\nHighlights:\n\n\n\nThe total Indicated Mineral Resource increased from 231,100 tonnes to\n 259,500 tonnes at a grade of 5.19 g/t TPM (2.10 g/t Pd, 2.32 g/t Pt,\n and 0.77 g/t Au), 0.88% copper, and 0.10% nickel and 6.95 g/t Ag\n\n\nThe total Probable Mineral Reserve increased from 196,000 tonnes to\n 205,000 tonnes at a grade of 4.59 g/t TPM (1.89 g/t Pd, 2.07 g/t Pt,\n and 0.63 g/t Au), 0.92% copper, and 0.10% nickel and 6.63 g/t Ag \n\n\nImproved pit slope walls as a result of a detailed geotechnical study\n completed by Genivar and a new mine design developed by Roscoe Postle\n Associates, (\"RPA\"), in 2013 resulted in a 7% decrease in total waste\n by 114,000 tonnes thus reducing the stripping ratio from 8.7 to 7.8 \n\n\nAll of the above are positive developments for the project\n\n\nAll permits expected by October 2013 and Production decision in Q4, 2013\n\n\nCurrently Wallbridge has drawn down $750,000 of the $2M Line of Credit\n facility with Callinan Royalties to cover the incurred costs of\n development of the Broken Hammer project, including the Financial\n Assurance\n\n\nMineral deposit is open at depth (very little drilling below 100m depth)\n\n\n\n\n\n\n\"We are excited to see that the results of our efforts to advance the\n project in the last year have provided us with more confidence in the\n viability of the project, thereby getting us closer to a production\n decision and creating a potential source of revenue\", said Marz Kord,\n President & CEO of Wallbridge.\n\n\nBroken Hammer Project Description\n\n\nThe Broken Hammer project is planned to be an open pit operation used\n for the extraction of approximately 205,000 tonnes of Probable Reserves\n utilizing the services of surface mining contractors. The ore is\n planned to be sampled for metal accounting through a sample tower\n on-site prior to being transported to an off-site facility for\n processing. The prefeasibility study in October 2012 estimates the\n production will be completed within 12 months of mining operation at an\n average daily rate of approximately 750 tonnes of ore.\n\n\nSummary of the Broken Hammer Updated Mineral Resour...